Nel ASA

Regulatory Filings • Nov 12, 2020

Nel ASA: Reference is made to stock exchange announcement regarding contract for multiple hydrogen fueling stations

Nel ASA: Reference is made to stock exchange announcement regarding contract for multiple hydrogen fueling stations

(Oslo, 12 November 2020) On 30 June 2020 Nel Hydrogen Fueling, a division of Nel

ASA (Nel, OSE:NEL), received a purchase order for multiple H2StationT units for

fueling of light-duty vehicles in California from Iwatani Corporation of

America, a wholly owned subsidiary of Iwatani Corporation (8088: Tokyo Stock

Exchange).

"We are very honored that Iwatani and Toyota have selected our H2StationT

hydrogen fueling station solutions for strengthening the hydrogen infrastructure

in Southern California. The stations will serve existing as well as new fuel

cell electric vehicles, such as the next generation Toyota Mirai, with zero

-emission fuel, at the same convenience as conventional fuels. With our Nel Inc.

entity currently based in the San Francisco area we now look forward to

expanding our business in California and supporting Iwatani," says Ulrik Torp

Svendsen, Key Account Manager, Nel Hydrogen Fueling.

The value of the purchase order was in excess of NOK 150 million, and included

14 H2StationT modules which will be installed in 2021 on 7 sites in California,

US for fueling of passenger vehicles.

Link to press-release from Iwatani and Toyota:

https://pressroom.toyota.com/iwatani-corporation-of-america-and-toyota

-collaborate-to-bring-seven-new-hydrogen-refueling-stations-to-southern

-california/

ENDS

For further information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Bjørn Simonsen, VP Investor Relations & Corporate Communication, +47 971 79 821

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to

produce, store, and distribute hydrogen from renewable energy. We serve

industries, energy, and gas companies with leading hydrogen technology. Our

roots date back to 1927, and since then, we have had a proud history of

development and continuous improvement of hydrogen technologies. Today, our

solutions cover the entire value chain: from hydrogen production technologies to

hydrogen fueling stations, enabling industries to transition to green hydrogen,

and providing fuel cell electric vehicles with the same fast fueling and long

range as fossil-fueled vehicles - without the emissions.